Pine Labs raises Rs 1,753 crore ahead of IPO; MIT retirement fund, SBI MF among anchor investors

Merchant payments company Pine Labs has raised Rs 1,753 crore through its anchor placement round from 12 domestic mutual funds and several global investors. The company allotted 79 million shares at Rs 221 apiece.

Large domestic funds such as SBI Mutual Fund, HSBC, Mirae Asset, and Axis Mutual Fund accounted for 47% of the anchor allocation, contributing Rs 828 crore.

Among global investors, Singapore-based Integrated Core Strategies, Custody Bank of Japan, and the Massachusetts Institute of Technology Retirement Plan Trust (US) participated in the…